Trading Update ANCHOR GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number 2009/005413/06) Share code: ACG ISIN: ZAE000193389 (“Anchor” or “the Company”) TRADING UPDATE Business conditions in South Africa have changed dramatically in the past few months due to COVID-19 and the board of directors of Anchor wish to provide shareholders with an update on the impact of the COVID-19 pandemic on Anchor. For the first quarter of 2020, ended 31 March 2020, the ongoing turnover of the business is 10% higher than the comparable period in the prior year (which excludes the once-off termination fee earned by the Company in respect the Astoria investment management agreement during February 2019). Assets under management and administration have increased from R57.4 billion at 31 December 2019 to R59.2 billion at 31 March 2020 (an increase of 3%). Strong inflows, a weaker Rand and higher brokerage revenue have more than offset the decline in equity markets. Inflows for the first quarter have been in excess of R3 billion. Adjusted headline earnings per share is in line with management’s expectations for the first quarter. Following the first quarter, April 2020 saw a meaningful bounce back in markets, which is positive for Anchor. However, we expect volatility to continue and it is difficult to forecast earnings for the remainder of the year. Anchor’s balance sheet remains strong with cash and investments of R123 million at 31 December 2019 and with approved facilities of R45 million as at 31 March 2020. We are still in the early stage of understanding the impact of COVID-19 on the global economy, financial markets and the timing thereof. Anchor has reacted proactively with a focus on the preservation of client wealth, client communication and identification of new opportunities. The board of directors will continue to monitor the impact of COVID-19 on the business and will communicate with shareholders as circumstances change. The financial information contained in this trading update has not been reviewed or reported on by our auditors. 6 May 2020 Designated advisor Java Capital Date: 06-05-2020 09:07:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.